{"data":{"id":"us-tx/tex.-insurance-code-841.259","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 841.259","heading":"ACTIVITIES OF DIRECTORS AND OFFICERS.","body":"(a) A director or officer of an insurance company may not:\n(1) receive money or another valuable thing for negotiating, procuring, recommending, or aiding in a purchase or sale of property by or a loan from the company; or\n(2) have a pecuniary interest, as a principal, coprincipal, agent, or beneficiary, in a purchase, sale, or loan described by Subdivision (1).\n(b) This section does not prohibit:\n(1) a life insurance company from making a loan to a policyholder in an amount that is not greater than the reserve value of the policy; or\n(2) a transaction, purchase, sale, or loan approved by the commissioner under Subchapter A of Chapter 805 or Chapter 823.\nAdded by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.","path":["INSURANCE CODE","TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES","SUBTITLE C. LIFE, HEALTH, AND ACCIDENT INSURERS AND RELATED ENTITIES","CHAPTER 841. LIFE, HEALTH, OR ACCIDENT INSURANCE COMPANIES","SUBCHAPTER F. GENERAL POWERS, DUTIES, AND LIMITATIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.841.htm#841.259","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"5792c89854b5f133c63248d8822c98b3b06674863fde64dccfeb07ae56167db2","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-841.258","next":"us-tx/tex.-insurance-code-841.260"},"notice":"GroundRules: Original legal text. Not legal advice."}